IHT Wealth Management LLC Increases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

IHT Wealth Management LLC increased its holdings in Netflix, Inc. (NASDAQ:NFLX – Get Rating) by 76.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,175 shares of the Internet television network’s stock after purchasing an additional 1,814 shares during the period. IHT Wealth Management LLC’s holdings in Netflix were worth $983,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NFLX. Carolinas Wealth Consulting LLC grew its position in shares of Netflix by 27.6% in the third quarter. Carolinas Wealth Consulting LLC now owns 162 shares of the Internet television network’s stock valued at $38,000 after purchasing an additional 35 shares during the period. Paragon Wealth Strategies LLC purchased a new stake in Netflix during the third quarter valued at about $47,000. Stonebridge Capital Advisors LLC grew its position in Netflix by 163.6% during the third quarter. Stonebridge Capital Advisors LLC now owns 203 shares of the Internet television network’s stock valued at $48,000 after acquiring an additional 126 shares during the period. Old North State Trust LLC purchased a new stake in Netflix during the third quarter valued at about $51,000. Finally, Pacific Center for Financial Services grew its position in Netflix by 18.7% during the second quarter. Pacific Center for Financial Services now owns 299 shares of the Internet television network’s stock valued at $52,000 after acquiring an additional 47 shares during the period. Hedge funds and other institutional investors own 77.26% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $303.50 on Friday. Netflix, Inc. has a 12-month low of $162.71 and a 12-month high of $396.50. The firm has a market capitalization of $135.16 billion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 1.37 and a beta of 1.26. The business has a 50 day simple moving average of $334.97 and a 200 day simple moving average of $292.19. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.17 and a quick ratio of 1.17.

Netflix (NASDAQ:NFLX – Get Rating) last issued its quarterly earnings data on Thursday, January 19th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.35). Netflix had a return on equity of 23.06% and a net margin of 14.21%. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.85 billion. During the same period last year, the company earned $1.33 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that Netflix, Inc. will post 11.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NFLX. Morgan Stanley boosted their price target on Netflix from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Thursday, January 19th. StockNews.com began coverage on Netflix in a research note on Thursday. They set a “hold” rating on the stock. Truist Financial boosted their price objective on Netflix from $210.00 to $339.00 and gave the stock a “hold” rating in a research note on Tuesday, January 17th. Piper Sandler boosted their price objective on Netflix from $270.00 to $325.00 and gave the stock a “neutral” rating in a research note on Friday, January 20th. Finally, Canaccord Genuity Group boosted their price objective on Netflix from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 20th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $343.13.

Insider Buying and Selling at Netflix

In other Netflix news, Director Jay C. Hoag sold 3,698 shares of the stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $352.94, for a total transaction of $1,305,172.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.39% of the stock is currently owned by corporate insiders.

Netflix Profile

(Get Rating)

Netflix, Inc engages in providing entertainment services. It also offers a broad set of activities for leisure time, entertainment video, video gaming, and other sources of entertainment. It operates through the United States and International geographic segments. The company was founded by Marc Randolph and Wilmot Reed Hastings on August 29, 1997 and is headquartered in Los Gatos, CA.